Mortgage Wisdom in Focus

Transcription

1 Mortgage Wisdom in Focus

2 Company History Mortgage Wisdom was established in March 1994, by founder Steve Troughton, who had extensive experience in lending, finance and financial planning. Inviting other similarly experienced professionals to join him, Troughton built the company into a thriving, highly respected brokerage with representation in Victoria, New South Wales, the Australian Capital Territory and Queensland. In July 2002, Troughton restructured Mortgage Wisdom into a public (unlisted) company to include those brokers who had helped him grow the group. This extremely generous strategy created a situation unique in the Australian mortgage industry, where the great majority of the group s brokers were also shareholders, who had a meaningful say in the running of the group and benefited from dividends paid on the shares held. As a result of the new structure, the shareholders elected a Board of Directors to develop strategies and provide direction. Mortgage Wisdom s philosophy has always been to focus on quality, ethics and providing superior and professional service. The group now has over 80 brokers and has further evolved from being a high quality brokerage into a well respected, high quality aggregator, with many smaller brokerages joining the group and benefiting from Mortgage Wisdom s structure, management and support systems. Since the introduction of the Australian Mortgage Awards and the MFAA Excellence Awards, Mortgage Wisdom has figured prominently and has been acknowledged as either the best, or among the top performers in such categories as Brokerage of the Year, Sales Person of the Year, Best New Office and Employer of Choice and Wholesale and Retail Aggregator of the Year. Mortgage Wisdom is a full member of the MFAA, the FBAA and COSL, and diligently supports any legislation that will assist in making brokers in the industry more professional and accountable. We will continue to evolve and adapt to the mortgage industry of which we are a significant contributor, but our focus on quality and professionalism, will never change and that means our clients will continue to expect and enjoy the exceptional customer service they deserve.

3 The Structure Mortgage Wisdom s structure is simple but extremely functional. The group s shareholders elect a board of directors, who provide strategic planning and direction. The CEO and National Development Manager are the appointed executives who manage the group and implement the direction, established by the Board of Directors. The executives have seven support staff and the group s head office is located in Wollongong. The brokers that act as authorised representatives of the group are contracted via a service agreement with approved service providers. Mortgage Wisdom has entered into agreements with over thirty lenders who provide the extensive variety of lending options for our authorised representatives to offer to prospective borrowers. Being included on Mortgage Wisdom s panel of funders is a keenly sought after concession and enables Mortgage Wisdom to often negotiate better terms, that are passed on to their clients. The Mortgage Wisdom Group also incorporates the following brokerages:- Armstrong & Fairburn Lending Services Brian Hastings Finance & Management Executive Lending Services Finance Select Gateway Financial Global Future Investments Household Finance & Insurance Innovative Wealth Management Investors Financial Solutions Lease & Mortgage Direction Prestige Mortgages Simple Finance Australia Smart Option Finance Superwoman Money Workforce Finance The acquisition of Prestige Mortgages in December 2005 and more recently the mortgage manager, Mortgage Plus Service Centre adds a further dynamic to the group which will lead to even more benefits to the broker and their clients into the future.

4 Board of Directors BRIAN HASTINGS Chairman Brian s history in the finance industry started with 14 years at St George Bank as a Branch Manager, a Regional Manager and Divisional Manager. Brian has been a Mortgage Broker with Mortgage Wisdom since During that time he has built up an extensive client base with the majority of his business being returning or referred clients. In addition to being a Director of Mortgage Wisdom, Brian also had seven years as the Chairman of the National Soccer League Team The Wollongong Wolves where he notably privatised the club, to a limited number of shareholders to ensure it s future ability to raise capital. He is currently the Chairman of the Johnny Warren Football Foundation. Brian is a graduate of the Australian Institute of Company Directors, an Associate of the Australian Institute of Financial Services and is a MFAA accredited mortgage consultant. STEVE TROUGHTON Steve founded Mortgage Wisdom in March 1994 following an extensive background in the banking and finance industry as a manager and financial planner. He operated as a single broker before inviting high quality lending managers to join with him in delivering competitive home lending products in an ethical and professional manner. In 2002 Steve converted Mortgage Wisdom into a public (unlisted) company and offered many brokers within the group the opportunity to become shareholders. The shareholders elected a board of directors, including Steve as Chairman. Steve moved on to become CEO before taking time out to pursue other interests whist remaining a consultant to the group, mainly focusing on acquisitions and mergers as part of the strategic plan. Steve played an important role in negotiating and facilitating the acquisition of Prestige Mortgages in 2005 and the purchase of MPSC in Steve rejoined the board of Mortgage Wisdom in August DAVID HARTLEY David joined the Mortgage Wisdom board in December 2005, when Mortgage Wisdom acquired Prestige Mortgages. David was a Co-founder and Director of Prestige Mortgages which was formed in March 1998 and grew to 35 consultants before the acquisition. Having a strong lending background Prestige Mortgages attracted other highly experienced consultants with an average lending experience of 16 years per consultant. Prior to Prestige Mortgages, David spent 10 years as a Senior Lending Manager with St George Bank. David believes his key strengths are developing long term relationships, mentoring and knowledge of the industry and its products. David holds a Diploma in Financial Planning and is a member of the NSW Originators Committee of the MFAA (Mortgage & Finance Association of Australia), a role he enjoys and which enables him and the Mortgage Wisdom Board a further insight into industry matters.

5 Company Executives DAVID SMITH Chief Executive Officer David has 30 years experience within the mortgage industry. He spent the first 20 years of his career with St. George commencing as a management cadet and culminating in him heading up third party mortgage origination. He then headed up a mortgage management company known as Mortgage Plus, offering the full mortgage management service as well as introducing a CMBS in Mortgage Wisdom purchased Mortgage Plus Service Centre in 2006 and David became the CEO and a shareholder of MWA shortly after. NICK CREAGH National Development Manger Nick is a current shareholder of Mortgage Wisdom and has been with the company for the past seven years as the National Development Manager. During this time Nick also held the position of Company Director for a two year period. Nick has held positions with Aussie Home Loans as a Regional Manager, St. George Bank in various management positions and AVCO Financial Services as a Senior Branch Manager over the previous 32 years.

6 Corporate Structure MORTGAGE WISDOM AUSTRALIA LTD (SHAREHOLDERS - 54) PRESTIGE MORTGAGES PTY LTD MORTGAGE WISDOM PTY LTD SHIPROCK ENTERPRISES PTY LTD (T/A MPSC & MWHL) BOARD OF DIRECTORS (3) MANAGEMENT (2) SUPPORT STAFF (7) BROKERS (80+) Armstrong & Fairburn Lending Services, Brian Hastings Finance & Management, Executive Lending Services, Finance Select, Gateway Financial, Global Future Investments, Household Finance & Insurance, Innovative Wealth Management, Investors Financial Solutions, Lease & Mortgage Direction, Prestige Mortgages, Simple Finance, Smart Option Finance, Superwoman Money, Workforce Finance